Singapore Budget 2016: Property players fret over absence of relief. Measures for Households. Revenue and Expenditure Estimates. Singapore Budget 2005 (zip 4,349kb) Budget Book Revenue and Expenditure (13,428kb) Budget Highlights (817kb) Budget Speech (410kb) Singapore Budget 2004 (zip 1,063kb) Fiscal Overview (454kb) Budget Speech (895kb) Singapore Budget 2003 (zip 1,125kb) Fiscal Overview (480kb) Budget Speech (731kb) Singapore Budget 2002 (zip 714kb) Annex to the Expenditure Estimates. Manufacturing Work Permit levies will remain unchanged this year, as announced at Budget 2015. In Budget 2016, the Government will launch a new Industry Transformation Programme to help firms and industries create new value and drive growth. The Government will enhance the Revitalisation of Shops package, to better support promotional activities and upgrading projects in HDB town centres and neighbourhood centres. Budget Videos. Budget … The SME Working Capital Loan will be available for three years, starting from 2016. Budget Measures. SPRING will also work with the Federation of Merchants’ Associations Singapore and local merchant associations to strengthen their capabilities to support heartland businesses. To help our people adapt to changing job demands and grow their skills, the Government will enhance employment support through the “Adapt and Grow” initiative. SINGAPORE - On March 24, Finance Minister Heng Swee Keat will deliver his maiden Budget, also the first in the new Government's term in office. Compatible for Android with HLS support, Video streaming is subjected to the users’s device settings, video player, telecommunications service provider and network coverage, Check that network or desktop firewall allows for streaming content to be viewed, Dedicated or sufficient internet bandwidth, This video is supported on iPhone Generation 4 and above, and iPad Generation 2 and above. (D3) Jurong Innovation District: To create an open and innovative urban environment, the Government will launch the Jurong Innovation District, which will bring together learning, innovation, research, and production to create products and services of the future. This will provide employers with a wage offset for workers aged 55 and above earning up to $4,000 a month1. This covers qualifying expenses incurred for activities such as participation in overseas business development and investment study trips. Analysing the 2016 Budget Statement. Revenue and Expenditure Estimates. D. Budget Position FY 2015 Fiscal Position FY 2016 Fiscal Position E. Conclusion ANNEXES Annex A-1: Extension Of The Special Employment Credit (SEC) (90kb) Annex A-2: Enhancements To Support Enterprises And Industries (153kb) Annex A-3: Changes To Foreign Worker Levies (185kb) Annex A-4: Tax Changes (365kb) 198402868E. Budget Measures. To support viable SMEs that may have cash flow concerns or wish to continue growing their business, the Government will introduce a new SME Working Capital Loan scheme, for loans of up to $300,000 per SME. This will build on the existing LEAD programme to provide wider funding support for TACs to attract talent, develop their capabilities, and strengthen their processes and services. Under this scheme, the Government will co-share 50% of the default risk of these loans with participating financial institutions, to encourage lending to SMEs. The SEC will be up to 5% for workers aged 60 to 64 and up to 3% for those aged 55 to 59. But a log-in is still required for our PDFs. To provide more support for our SMEs to scale up, the Government will: To encourage our SMEs to internationalise, the Government will: The Government will develop a one-stop trade information management system called the National Trade Platform to support firms, particularly those in the logistics and trade finance sectors. Employers with Singaporean workers aged 65 and above will continue to receive a wage offset of up to 8%. Overall Budget Balance. US stocks end best week in months with muted session. Measures for Households. To help firms access the many grants from various agencies more easily, the Government will launch the Business Grants Portal in the fourth quarter of 2016. Budget in Brief. Budget … The Government will proceed with levy increases for Services and Construction Work Permit holders, as well as S Pass holders in every sector, as announced in Budget 2015. Measures for Businesses. More details will be announced by the Ministry of Manpower at the Committee of Supply. To support companies to automate, drive productivity and scale up, the Government will introduce a new Automation Support Package for a period of 3 years. To enable our people to learn new ICT skills quickly, the Government will set up TechSkills Accelerator, a new skills development and job placement hub for the ICT sector. No. The Portal will organise these grants along core business needs of i) capability building, ii) training and iii) international expansion. Budget in Brief. Grant the Mergers and Acquisitions (M&A) allowance on up to $40 million of consideration paid for qualifying deals, instead of the current cap of $20 million to support more M&As. This is in addition to the wage offset of 3% for the re-employment of workers aged 65 and above till the re-employment age is raised in 2017. To forge closer partnerships, and enable public officers to better understand the needs of our enterprises, the Government will also second up to 20 public officers over the next five years to interested TACs as part of the LEAD-Plus programme. Measures for Businesses . Budget Debate Round-Up Speech. This will be developed as an open innovation platform to enable other service providers to develop value-added services and apps for the system. SINGAPORE - Finance Minister Heng Swee Keat will present his first Budget on March 24. Singapore is required under the Constitution to keep to a balanced Budget over each term of Government. Can Singapore households weather slowing growth? The difference is due to rounding. Analysis of Revenue and Expenditure. 5 things to expect from Budget 2016, Budget A-Z: A guide to tackling Budget jargon. To help our TACs strengthen their outreach, the Government will introduce a new Local Enterprise and Association Development-Plus (LEAD-Plus) programme. SG-Innovate will match budding entrepreneurs with mentors, introduce them to venture capital firms, help them to access talent in research institutes, and open up new markets. Singapore Budget 2016 - Measures For Businesses (A) Addressing Near-Term Concerns In view of the current economic conditions, the Government will provide calibrated measures to address cyclical headwinds while supporting firms to seize opportunities and press on with restructuring. System specifications required for iPhone and iPad users, System specifications required for Android users. Major IT employers and associations, including SiTF, SCS and ITMA5, will partner IDA in this effort. (A1) Enhancing Corporate Income Tax Rebate We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. Confused by the list of acronyms, financial jargon and terms? Singapore Budget 2016: Substantive help for … More details will be announced by the Ministry of Communications and Information at the Committee of Supply. Budget Videos. Extend the upfront certainty of non-taxation of companies’ gains on disposal of equity investments based on existing scheme parameters, until 31 May 2022. The higher percentage rebate is targeted at SMEs. Menu. Support more firms in their internationalisation efforts through assistance such as the Global Company Partnership and Market Readiness Assistance programmes. Best viewed using IE 11, Firefox 27, Chrome 22, and Safari 7 and above, screen resolution 1024 x 768, About This Site | Contact Info | Feedback | Sitemap, Grant support for the roll-out or scaling up of automation projects at up to 50% of qualifying cost, with a maximum grant of $1 million, Investment Allowance of 100% for automation equipment, in addition to the existing capital allowance. Until we resolve the issues, subscribers need not log in to access ST Digital articles. Please watch it here. Will there be 'hongbao'? Singapore Budget 2016. Menu. Budget Summary. The measures include wage support, waiver of … All rights reserved. Singapore Budget 2016. 5 As stated in the FY2016 Budget Statement, the estimated FY2016 Overall Budget Surplus is $3.4 billion when rounded to 1 decimal place.
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